According to research released by information solutions company, Experian on Monday, the profitability of UK businesses last year fell for the fourteenth consecutive quarter, a drop which is being partially blamed on the increased burden imposed by new employment legislation.
Experian's Corporate Health Check revealed that the average return on capital among leading UK companies across the industrial economy fell from 7.57% in the 12 months to June 2002 to 6.98% in the twelve months to September 2002, results which led the company to announce that:
'Part of the reason for this lower profitability lies in substantially higher costs for businesses, mostly from new legislation...which will be further increased from April by the 1% rise in employers' NIC.'
The Experian study also cited low capital investment as another factor in the declining profitability of UK businesses.
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